Which of the following is considered a psychological factor influencing consumer behavior?

The answer focusing on personal beliefs and motivations is correct because psychological factors encompass internal processes that influence how individuals perceive and interact with their purchasing environment. Personal beliefs and motivations shape consumers' needs and desires, impacting their decision-making processes.

For example, a consumer’s motivation to buy a product may stem from a personal belief system that prioritizes sustainability, leading them to choose eco-friendly options. Psychological factors, such as attitudes, beliefs, and feelings, play a significant role in shaping these motivations and ultimately guide consumer behavior.

In contrast, market trends fall under external environmental factors, cultural influences relate more to societal norms and values, and social interactions pertain to the influence of peers and networks. While all these factors can affect consumer behavior, they do not directly stem from individual psychological processes in the same way personal beliefs and motivations do.